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/en/bank-og-finansmarked/statistikker/k2/arkiv
4211
Lower growth in household credit
statistikk
2007-01-31T10:00:00.000Z
Banking and financial markets
en
k2, The credit indicator C2, general public’s gross domestic debt, credit expansion, credit transactions, liabilities, creditFinancial indicators, Banking and financial markets
false

The credit indicator C2, December 2006

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Lower growth in household credit

The credit indicator C2 amounted to NOK 2 599 billion at end-December. Twelve-month growth was 14.6 per cent, down from 14.8 per cent to end-November. Both households and non-financial enterprises contributed to the decline. Despite the decline the credit growth is still at a high level.

Credit indicator C2. Percentage change

Credit to households amounted to NOK 1 566 billion at end-December. Twelve-month growth in credit to households was 12.5 per cent, down from 12.9 per cent to the end of the previous month. Although still high, December growth was the lowest since August 2005. See http://www.ssb.no/english/subjects/09/01/finsek_en/ for a full financial account for households.

Continued high growth in credit to non-financial enterprises

Domestic credit to non-financial enterprises amounted to NOK 847 billion at end-December. Twelve-month growth in credit to non-financial enterprises decreased from 21.0 per cent to 20.6 per cent from end-November to end-December. The twelve-month growth rate has been above 20 per cent since August 2006, which is the highest recorded as far back as we have data in the C2 statistics, i.e. the late 1980s.

Credit indicator C2. Percentage change
  October 2006 November 2006 December 2006
12 mth total 14.6 14.8 14.6
3 mth mov.avg.tot 15.1 14.6  
12 mth households 12.8 12.9 12.5

High growth in bank loans

Bank loans to the general public (households, non-financial enterprises and municipalities) amounted to NOK 1 835 billion at end-December. Twelve-month growth in bank loans was 19.2 per cent, down from 22.3 per cent to end-November. Please be aware that the growth rates of bank loans in the tables are overestimated because of several shifts in portfolios from mortgage companies and finance companies during the last year.

C2 is an approximate measure of the size of the gross domestic debt of the general public (households, non-financial enterprises and municipalities) in NOK and foreign exchange. Statistics Norway also compiles the credit indicator C3, which in addition to C2 (the public’s domestic gross debt) also includes the public’s external loan debt. Most of the public’s external loan debt refers to non-financial enterprises. The C3 statistics are published approximately one month later than C2. See http://www.ssb.no/english/subjects/11/01/k3_en/